China Orient Asset Management
China Orient Asset Management Co., Ltd. is a Chinese state-owned enterprise. The company is an asset management company and a merchant bank originated as a bad bank for the Bank of China. The bank received shares from debt-to-equity swap of non-performing loans.
COAMC logo | |
| Formerly | China Orient Asset Management Corporation |
|---|---|
| Company type | state-owned enterprise |
| Industry | Financial services |
| Founded | 1999 |
| Headquarters | Beijing , China |
Area served | China |
| Services |
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| Revenue | CN¥12.7 billion (2012) |
| CN¥4.0 billion (2012) | |
Net income | CN¥12.35 billion (2017) |
| Total assets | CN¥979.22 billion (2017) |
| Total equity | CN¥18.4 billion (2012) |
| Owner |
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| Parent | Ministry of Finance of China |
| Website | coamc.com.cn |
| Footnotes / references in a consolidated basis, commercial sector only | |
| China Orient Asset Management Co., Ltd. | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国东方资产管理股份有限公司 | ||||||
| Traditional Chinese | 中國東方資產管理股份有限公司 | ||||||
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| Alternative Chinese name | |||||||
| Simplified Chinese | 东方资产 | ||||||
| Traditional Chinese | 東方資產 | ||||||
| Literal meaning | Orient Asset | ||||||
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The corporation runs in two major business units since 2006, one for general commercial activities (Chinese: 商业化业务), one for the management of the shares that converted from non-performing loans (Chinese: 政策性不良资产处置业务), which was classified as assets under management.
In 2016 the corporation was re-incorporated as a "company limited by shares" (Chinese: 股份有限公司): China Orient Asset Management Co., Ltd. (Chinese: 中国东方资产管理股份有限公司) from China Orient Asset Management Corporation (COAMC, Chinese: 中国东方资产管理公司). the National Social Security Fund and the Ministry of Finance were the shareholders. According to the company's news press, as at 30 June 2016 its net assets stood at CN¥55.6 billion. The former non-performing assets under management were converted to share capital, raising from CN¥10 billion to CN¥55.363 billion.